Optimer shares slide after it halts trial; Theratechnologies shares surge on Egrifta approval;

 @FierceBiotech: GSK: Expect more M&A deals and new collaborative enterprises. News | Follow @FierceBiotech

 @JohnCFierce: Second take on Arena: Looks pretty bleak for any quick OK. The CEO keeps digging deeper and deeper, though. Is his job on the line? Follow @JohnCFierce

> Shares of Optimer slid eight percent on the news that an unexpectedly high rate of skin rashes forced it to shelve a study of its infectious diarrhea therapy. Story

> The FDA has approved Theratechnologies' Egrifta, a new drug to treat abdominal fat in HIV patients, sending its shares up 15 percent this morning. Report

> Watson Pharmaceuticals has decided to shutter its program for Uracyst after the therapy failed a pilot study for interstitial cystitis. Report

> Athersys has won a green light from the FDA for its Phase II study of the adult stem cell treatment MultiStem for ulcerative colitis. MultiStem is already in the clinic for a number of conditions. Story

> Xoma touted some fresh positive results from a tiny study of a new drug for uveitis. Report

And Finally... Investigators at the University of Michigan say they have found a new way to target idiopathic pulmonary fibrosis. Story